Seattle mayor proposed $2M loan for social housing before tax cash arrives

Seattle mayor proposed $2M loan for social housing before tax cash arrives

(The Center Square) – Seattle Mayor Bruce Harrell is proposing a bill to provide the Seattle Social Housing Developer with a $2 million loan until new payroll expense tax revenue rolls in.

Mayor Harrell Proposes $2MM Bridge Loan to Support Seattle Social Housing Developer - The Registry

Seattle – Today, Mayor Bruce Harrell announced legislation to authorize the City’s Finance Director to provide a $2 million bridge loan to the Seattle Social Housing Developer, a Public Development Authority created by voters to develop, own, and maintain social housing in Seattle, which is publicly owned, publicly financed, mixed-income housing. The City’s short-term loan will allow the developer to sustain core operations and potentially pursu…

What’s in the Mayor’s Long-Awaited Budget Proposal?

Her proposed budget has already drawn howls of criticism from progressive advocacy groups, with Erica Williams of the left-leaning D.C. Fiscal Policy Institute deriding it as an “inequality agenda” that will leave already low-income residents further behind as the federal government cuts social services and the city possibly enters a recession.